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news details
JKSCCC prefers rented building, shells out Rs 85 lakh in 5 yrs
6/13/2018 12:31:28 PM



Early Times Report
Jammu, June 12: Despite acquiring a piece of land seven years ago for constructing its head office, the J&K State Cable Car Corporation (JKSCCC) prefers to operate from a rented building for which it has shelled out Rs 85 lakh in last five years.
The JKSCCC acquired a plot of land at a cost of Rs 1.25 crore for raising a building that was also to house its head office. However, no progress could be achieved in construction of the building despite lapse of five years, defeating the objective of purchasing the land.
"The Board of Directors of the Corporation decided in 2008 to acquire a piece of land measuring 2.5 kanals in Srinagar from the J&K Industries Limited (JKI) for construction of a multi-storeyed commercial building. A part of the building was to be utilized for accommodation of the head office of the company that is functioning from a rented building. The land was transferred in 2010 in favour of the company at the rate of Rs 50 lakh per kanal," said sources.
They said that despite the lapse of over five years, the company has so far failed to allot construction work to any agency. The company continued to house its head office in a rented building for which it has paid Rs 85 lakh on account of rent during 2010 to 2016.
"Allowing a margin of one and half years for construction of building, the company had incurred an expenditure of Rs 57 lakh on account of rent for the office building which could have been avoided," the sources added.
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